Tuesday, September 24, 2013

OMG! What is Congress Thinking?

OMG! How badly do some in Congress want to stop healthcare reform from rolling out? So badly that on the eve of implementation they’re ready to tank our nation’s credit rating—significantly damaging our economy—by holding the debt limit hostage in an attempt to stop affordable healthcare options from being extended to tens of millions of Americans. [1]

That’s how far they’re ready to go.

How far are you ready to go to protect our economy—and to see your family, friends, and neighbors have access to affordable healthcare?

What the what?! Here’s the lowdown: Some in Congress are threatening to not pay our nation’s bills by refusing to address the debt limit, which would tank our nation’s credit rating, unless healthcare reform is rolled back. You might be wondering what the debt limit does. You must be wondering what the debt limit has to do with anything. Here’s what the Treasury Department has to say, “The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congress and presidents of both parties have made in the past.” [2] Historically, raising the debt limit has been non-controversial and non-partisan—both Republican and Democratic presidents have done this in the past. [3]

This is a very, very serious issue that impacts all aspects of our national economy. According to the Government Accounting Office (GAO), when Congress just debated the debt limit at length in 2011 (and didn’t even default on any payments), the cost to American taxpayers was $1.3 billion. [4] Yes, that’s billion with a B!

And now, some in Congress are holding the debt limit hostage in an attempt to roll back healthcare reform, also known as Obamacare. Clearly those who are out to destroy Obamacare will do anything to sabotage this law, including tanking our national economy.

Holding the debt ceiling hostage would have negative rippling impacts across our nation. If Congress doesn’t take action on the debt ceiling, then it could affect millions of people and businesses who depend on timely payments, including veterans, soldiers, doctors and hospitals who treat Medicaid patients, state and local governments, and recipients of Unemployment Insurance and SNAP. In addition, at risk is a 70% reduction in the Children’s Health Insurance Program (CHIP) and denial of coverage to the 6 in 10 Americans currently without health insurance if the healthcare law is delayed or defunded. [5] [6]

On top of all of this, if Congress doesn’t address the debt ceiling and causes our nation to default on loans, the default would badly hurt the economy and send financial markets reeling. [7]

It’s unbelievable that some in Congress would threaten to default on our nation’s loans, tanking our national economy, in an attempt to stop people from getting healthcare.